Foreword
EOSIO is a software with great design. The continuous development of EOSIO by Block.One team has been widely recognized by the community in recent years, bringing the cryptoeconomics from concept to a new stage of large-scale commercial application.
Based on different governance concepts, the EOSForce was born. And after a year, the EOSForce’s governance concept was gradually recognized by the community in practice.
As the world’s first large-scale network of staking economy practices, we have also pioneered a number of problems. This article will describe the specific problems we encountered in the direction of community governance and the potential solutions. The problems EOSForce faced today will be encountered by other blockchain networks in the future. Hope that the community can take the initiative to think about and solve the problems in development, and set a better example for the latecomers.
1. Who is EOSForce’s contributor?
1.1 EOSForce BPs and Voters
The network of EOSForce is maintained by the BPs generating blocks in turns elected by the voters. Therefore, it is necessary to encourage voters to perform their duties of supervising and electing nodes, and encourage BPs to maintain network stability continuously.
1.2 Block.One and its early donors
EOSIO exists in the form of open source code, so the donors of the codes are the genesis accounts when the mainnet launched. We launched EOSForce network based on EOSIO, so the donors of EOSIO source code need to be issued block rewards 1:1, and it should be the same with B1.
1.3 Developers of EOSForce
The development of the public blockchain has moved from an era of decentralized community volunteer development to a formed development team, so how to continuously motivate developers and various tool developers is very important.
1.4 Other individuals or organizations contributing to EOSForce
2. What principles should incentive follow
2.1 Blockchain security first
In any case, the security of blockchain always comes first, which is why most of the incentives in most blockchain networks are given to nodes that maintain network security.
2.2 Maintain fairness
The Incentive of the network should be a unified rule for all. It cannot be a tool for the benefit of a minority interest groups. Therefore, we do not emphasize decentralization here. Decentralization is only a means, and our goal is fairness.
POW is different from POS. The holders of POW networks are only equivalent to obtaining the dividend right of the network. The decision of network governance is in the hands of the nodes. And the holders of POS networks obtain the decision of network governance and network dividend rights. So fairness is particularly important. That’s why our development team chose to get token incentives from the system without adopting the traditional ICO approach.
2.3 Keep open
The network needs to be open to ensure that anyone can freely join and leave the network at any time.
2.4 Active development and evolution roadmap
Blockchain is also a technology industry, and we need continuous development and evolution to adapt to the changing needs of our users.
2.5 The soundness and evolution of the governance system
Liberalism is not anarchism or disorder. We hope that the governance of the entire network will proceed in a fair and continuously evolving order.
3. We propose some potential solutions and hope to explore better solutions with the community
3.1 High inflation rate + penalty for out of block-generating:
High inflation rates and penalty for out of block-generating should come together.
In the state of high inflation, participants in governance can fight inflation and indirectly increase turnout, so that the entire network is within the continued attention of its voters and cannot punish the node and its voting users. It will make the interests of voters and nodes who are concerned about their earnings consistent with the security interests of the entire network. We believe that a network first to achieve is an intrinsic value incentive of the positive cycle. As the value of the entire network increased with more developers and users, the token’s prices will produce a positive cycle.
3.2 Release the 80% tokens locked by BPs to EOSIO donors 1:1, retain the continuous incentive of Block.One
EOSIO’s donors receive a one-time incentive. Whether they are willing to continue to participate in community building or choose to sell their own tokens to obtain income is a voluntary to deal with their own assets without excessive interference. As Block.One’s continuous improvement of the EOSIO underlying source code, it is desirable to continue to receive incentives.
3.3 Minimum guarantee + handling fee model + mortgage resource model
When the mainnet launched, we saw some imperfections in the mortgage resource model, so we temporarily adopted the fee model, which is more friendly to users and guarantees the user’s operating experience. With the improvement of the mortgage model, we hope to restore a part of the mortgage model to make the user experience and developer experience friendly enough.
4. A referendum system to correcting the issue of permissions in EOS practice
EOSEMLG’s practice on the referendum system is very encouraging. A good referendum system can make the entire network retain the will of the majority in an extreme situation. An online mobile referendum system can also make the governance of the entire network more fair.
We found that the biggest problem with the EOSEMLG referendum system is the issue of permissions. It is critical that how the permissions of the referendum system and the BP’s permissions counterbalance each other.
5. The need of a decentralization budget system
Most fair networks choose to reward 100% of blocks to nodes and voters, which can lead to reduced openness. We think that part of the block rewards should be awarded separately to other community contributors.
The budget system should be generated from the block rewards, controlled by multiple signature of the nodes or by the executive team voted by the node. The actions that need to be rewarded include but are not limited to:
Participate in the development of the public blockchain
Participating in the development of development tools
Participating in the development of smart contracts
Participating in the maintenance of various public channels of the community and organizing various community activities
EOSForce Development Team
